Rio Colorado potash mine, Argentina
Name and Location
Rio Colorado potash mine, Argentina.
Client
Vale.
Project Description
The project involves the development of a mine, with an initial nominal capacity of 2.4-million tons a year of potash.
The project has the potential for expansion to 4.35-million tons, the construction of a railway spur of 350 km, port facilities and a power plant.
Value
$5.92-billion.
Duration
The implementation of the project has been suspended.
Start-up was scheduled for 2014 and mine life was expected to exceed 50 years.
Latest Developments
Vale has suspended the implementation of the project.
The company has stated that, in the current macroeconomic environment, the economics of the project are not in line with its commitment to “discipline in capital allocation and value creation”.
By the end of 2012, Vale had invested $2.23-billion in the project, with another $611-million in capital expenditures forecast for 2013.
The project was 45% complete at the end of 2012.
Key Contracts and Suppliers
None stated.
On Budget and on Time?
The project has been suspended.
Contact Details for Project Information
Vale, Roberto Castello Branco, tel +55 21 3814 4540 or email roberto.castello.branco@vale.com.
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